Hind petro - bullish trade idea

Hindustan petro

Tech analysis -

• Stock gave a breakout from inverse head & shoulder pattern on a big chart, which clearly indicates a long term trend reversal.
  Stock price is doing a retracement post breakout, which presents a good buying opportunity.
  Stock has good dividend yield, so if market goes down that we can hold it patiently.
  

Trade set up -


*Go long at cmp and add more on dips. Keep a target of 400+ and we will revisit this trade above 400.
I cant see any need of stop less at the moment, we will revisit it if shoulder neckline breaks.

All the best.